JAKARTA May 6 Indonesia's gross domestic
product expanded 6.02 percent in the first quarter of the year,
its slowest in two years, the statistics bureau said on Monday.
The expansion in the January to March period was slower than
the 6.11 percent registered in the previous quarter.
A Reuters poll of 11 analysts expected first quarter growth
at 6.18 percent, and a 1.50 percent rise on a quarterly and
seasonally-unadjusted basis. Seven analysts tipped the economy
to grow at a relatively steady pace of 6.2 percent in the next
The outcome is below Bank Indonesia's target of around 6.2
percent growth in the first quarter. Acting finance minister
Hatta Rajasa expected the economy to expand 6.5 percent this
On Thursday, Southeast Asia's biggest economy suffered a
setback when ratings agency Standard & Poor's downgraded its
outlook to stable from positive on concerns over stalling reform
y/y q/q (nsa)
Q1 2013 6.02 1.41
Q4 2012 6.1 -1.5
Q3 2012 6.2 3.2
Q2 2012 6.4 2.8
Q1 2012 6.3 1.4
Q4 2011 6.5 -1.3
Q3 2011 6.5 3.5
Q2 2011 6.5 2.9
Q1 2011 6.4 1.6
Q4 2010 6.9 -1.4
Q3 2010 5.8 3.5
Q2 2010 6.2 2.8
Q1 2010 5.7 1.9
* Some previous figures may change because of official
* Quarter-to-quarter figures are not seasonally adjusted
- Indonesia's economy relies heavily on domestic demand
which accounts for more than 50 percent of GDP.
- April inflation slowed to 5.57 percent, but was still
above the top limit of Bank Indonesia's target at 3.5-5.5
percent this year. However, core inflation continued to ease to
- The HSBC Markit purchasing managers' index for April rose
to 51.7 from 5.13, showing an expansion in manufacturing
activity in line with rising output.
- Foreign direct investment grew at a slower pace in the
first quarter at 27.2 percent, compared to 30.3 percent in the
same period last year.
- March's auto sales grew at a slower pace of 9.1 percent on
an annual basis from 19 percent the previous month. Sales of
motorbike in March jumped 7.4 percent from a year ago after
declining 2.5 percent in February.
- Indications are that with inflation, especially core
consumer prices, at manageable levels and the economy showing
steady growth Bank Indonesia is likely to keep its benchmark
rate steady at 5.75 percent at its May 14 meeting.
(Reporting by Andjarsari Paramadhita and Nilufar Rizki;
Editing by Jonathan Thatcher and Shri Navaratnam)